Extremism is dangerous in all forms and the art of investing is no different. Completely ignoring the world of technical analysis is a narrow-minded view that doesn’t make sense to me. Likewise, ignoring the fundamentals means you may as well be investing in an asset class that has no bearing on the real world, like crypto.Technical analysis works because enough people believe that it works.
If R120 is an important resistance level, then the sell orders will be ready there. The share could trade in that R100-R120 range for months.Breaking out of that range needs some form of catalyst. This could be an earnings announcement, a corporate action or a macroeconomic event or data release that shifts the market in a particular direction.Generate a one-year chart of Attacq and you’ll see what I mean. The property fund traded between R6...